« previous next »

Author Question: Explain why indifference curves have the following properties: (a) downward slope (b) convex to the ... (Read 79 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Explain why indifference curves have the following properties: (a) downward slope (b) convex to the origin (c) higher curves reflect higher utility (d) non-intersecting
 
  What will be an ideal response?

Question 2

________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pre-group levels.
 
  A) Trade creation
  B) Trade diversion
  C) Trade exclusion
  D) Trade distortion


mariahkathleeen

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

(a) Compensation required for the loss of any one good from the bundle
(b) Bundles with balanced quantities are preferred
(c) More is preferred to less
(d) Maintenance of transitivity of preferences

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Normal development of posture and spinal curves. (A) Toddler: Protruding abdomen; lumbar lordosis. ( Normal development of posture and spinal curves. (A) Toddler: Protruding abdomen; lumbar lordosis. (
Patient with DiGeorge syndrome. Note low set ears and wide set downward slanting eyes; often these ... Patient with DiGeorge syndrome. Note low set ears and wide set downward slanting eyes; often these ...
Properties of some naturally occurring RNA molecules Properties of some naturally occurring RNA molecules
Slope Fire Slope Fire
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: hGH (protein synthesis, growth and development)

For a complete list of videos, visit our video library